New Delhi/New York: Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, has agreed to pay USD 275 million to settle potential civil liability arising from alleged violations of US sanctions on Iran, the US Treasury’s Office of Foreign Assets Control (OFAC) said.
The settlement relates to imports of liquefied petroleum gas (LPG) through Mundra Port in Gujarat, which US authorities said were linked to Iranian-origin supplies routed via intermediaries.
According to OFAC, AEL purchased LPG shipments between November 2023 and June 2025 from a Dubai-based trader that represented the cargo as originating primarily from Oman and Iraq. However, the trader allegedly acted as a conduit for Iranian-origin LPG entering the market.
OFAC stated that none of the entities involved were sanctioned at the time of the shipments and that the import documentation did not explicitly indicate Iranian origin. However, it said gaps in compliance controls allowed the transactions to proceed without adequate risk mitigation.
The regulator said AEL and its associated port operations lacked sufficient safeguards to address sanctions-related risks in its LPG sourcing arrangements.
Following media reports in June 2025 alleging Iranian-origin imports, AEL suspended its LPG imports, engaged external US legal counsel and conducted an internal investigation. The company also voluntarily disclosed findings to OFAC and provided extensive documentation during the probe, the order noted.
OFAC said the company’s “extensive cooperation”, proactive self-disclosure and subsequent improvements to its compliance framework were key factors in reducing the penalty. While the statutory maximum penalty could have been about USD 384 million, the final settlement was set at USD 275 million.
AEL stated that the settlement does not constitute an admission of guilt or wrongdoing and resolves all related potential civil liability.
The case is part of a broader set of regulatory actions involving the Adani Group in the United States. In a separate matter last week, Gautam Adani and his nephew Sagar Adani agreed to pay USD 18 million to settle allegations by the US Securities and Exchange Commission that they misled investors in connection with fundraising for the group’s renewable energy business.
That settlement is understood to be part of wider discussions involving US authorities, including potential resolution of criminal charges by the Department of Justice and civil penalties by OFAC.
The OFAC case originated after AEL self-reported the issue in 2025 upon discovering that a vessel carrying Iranian-origin LPG had docked at Mundra Port. In early 2026, the company said it began cooperating with US authorities following formal information requests covering transactions dating back to 2023.
AEL has since strengthened its sanctions compliance systems and tightened internal controls across its operations, according to official disclosures.
Despite the legal scrutiny, the Adani Group has continued expanding its infrastructure, logistics and energy portfolio. Company filings indicate consolidated EBITDA of approximately USD 5.3 billion in the first half of FY26, with capital expenditure nearing USD 17 billion during the same period.
Disclaimer: The above report is based on regulatory disclosures and media reports.
